Arcadia Retirement Community Inc
- Assets
- $384.3k
- Revenue
- $865.0
- Investments
- $0.0
- Employees
- 0
- Location
- Long Branch, NJ
- Founding
- 12/2001
- Data as of
- 06/2021
- EIN
- 31-1510952
Organization Overview
Arcadia Retirement Community Inc is located in Long Branch, NJ. The organization was established in 2001. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arcadia Retirement Community Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Arcadia Retirement Community Inc generated $865.0 in total revenue. All expenses for the organization totaled $1.4m during the year ending 06/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NURSING HOME FOR THE ELDERLY AND INFIRMED. THE ORGANIZATION OPERATED THE FACILITY UNTIL AUGUST 30, 2019, WHEN THE NURSING HOME RELATED ASSETS WERE SOLD TO HAMILTON PROPCO LLC, AND TRANSFERRED OPERATIONS TO HAMILTON OPERATOR LLC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATED THE 126-BED SKILLED NURSING FACILITY LOCATED IN HAMILTON SQUARE, NEW JERSEY. IT BEGAN OPERATIONS IN 1997 AND PROVIDES THE HIGHEST QUALITY OF CARE FOR THE ELDERLY AND INFIRMED. ON AUGUST 30, 2019, THE FACILITY'S NURSING HOME RELATED ASSETS WERE SOLD TO HAMILTON PROPCO LLC, AND TRANSFERRED OPERATIONS TO HAMILTON OPERATOR LLC. ON SEPTEMBER 1, 2020, ARCADIA RETIREMENT COMMUNITY, INC. DISTRIBUTED THE NET PROCEEDS FROM THE SALE TO GREATER MERCER AREA HEALTHCARE FOUNDATION INC. (EIN #84-2292072), A 501(C)(3) TAX EXEMPT NON PROFIT FOUNDATION. (SEE SCHEDULE N, PART II.) ARCADIA RETIREMENT COMMUNITY, INC. IS IN THE PROCESS OF WINDING DOWN ITS AFFAIRS AND WILL DISTRIBUTE ANY REMAINING FUNDS TO GREATER MERCER AREA HEALTHCARE FOUNDATION INC. AND THEN REQUEST DISSOLUTION OF THE ENTITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Sargent President | Officer | 5 | $0 |
Cory Wingerter Sec/treas | Officer | 1 | $0 |
George Moutis Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $865 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $865 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,409,930 |
| Total functional expenses | $1,409,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,461 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,819 |
| Total assets | $384,280 |
| Accounts payable and accrued expenses | $3,185 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,185 |
| Net assets without donor restrictions | $381,095 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $384,280 |
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